Monday, February 10, 2014
PHILADELPHIA (AP) — A judge has ruled that feuding owners of Philadelphia's two largest newspapers must dissolve the company in Delaware, where they incorporated two years ago.
The ruling is a victory for majority owner George Norcross, a Democratic powerbroker who wants the company sold there in a private auction involving only current investors.
Norcross is locked in a court fight for control of The Philadelphia Inquirer, Philadelphia Daily News and the website Philly.com with rival owner Lewis Katz. Katz sought an open auction in Philadelphia.
Philadelphia Common Pleas Judge Patricia McInerney has handled previous court showdowns over their picks for publisher and top editor.
She says in a ruling Friday that Interstate General Media should be dissolved in Delaware's Chancery Court.